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December 28, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Lawmakers offer little hope of deal averting "fiscal cliff"
    Official in Washington said the chances of Congress and the White House agreeing on a budget compromise in time to prevent the "fiscal cliff" from triggering automatic spending cuts and tax hikes on Jan. 1 are fading. Lawmakers and aides from both parties said the flurry of last-minute activity has more to do with shifting blame for failure than any serious attempt to reach a compromise. The House of Representatives will meet Sunday in an effort to head off a fiscal crisis that some economists say could send the U.S. back into recession. The New York Times (tiered subscription model) (12/27) LinkedInFacebookTwitterEmail this Story
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  Industry Update 
  • FINRA fines 5 Wall Street banks over payments to lobbyists
    The Financial Industry Regulatory Authority said it imposed fines of just over $4.48 million on five Wall Street banks for improperly attempting to obtain reimbursement for payments to lobbyists from the proceeds of state and municipal bond sales. The regulator said the banks asked for the refund of fees paid to the California Public Securities Association by claiming that lobbying payments were underwriting expenses. Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  • Central banks increase U.S. Treasury holdings worldwide
    The Federal Reserve's holdings of U.S. securities maintained for foreign central banks rose $4.502 billion in the week ended Wednesday, the Fed said. This is despite the decline of securities guaranteed or issued by Fannie Mae and Freddie Mac that are held by foreign institutions, which fell $4.148 billion, to $311.05 billion. CNBC/Reuters (12/27) LinkedInFacebookTwitterEmail this Story
5 tips for managing negative online comments
The Internet gives your customers a voice online, but what can you do when that voice is yelling negative comments? With 5 tips, you can learn how to positively respond and help direct the conversation. Read the article and learn the 5 ways to respond positively.

  New York Focus 
Building Workplace Trust 2015
Interaction Associates' 6th annual research study tracking trust on the job, Building Workplace Trust, is out, and more than half of employees surveyed give their organizations low marks for trust and leadership. Yet this year's findings again point to how high trust leads to better outcomes and financial results — and even boosts innovation.

  Career Development 
  • Why bosses should join the culture club
    Many bosses neglect culture in favor of agonizing over products and services, writes S. Chris Edmonds. That's a mistake: Culture, after all, is the driver of all company activity. "Because of this fact, corporate culture may be your company's most important asset," Edmonds argues. SmartBrief/SmartBlog on Leadership (12/26) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  People & Personalities 
How SDN Makes Campus Networks Better
When should agencies adopt SDN? IDC reports that SDN provides immediate benefits for government campus networks, including modernized IT infrastructures that are more agile, cost-effective, and collaborative.
Read this new IDC paper to learn more.

  Financial Products 
  • Expiration of crisis program may be boon for some asset classes
    The Transaction Account Guarantee, which lifted the $250,000 limit on Federal Deposit Insurance Corp. insurance of noninterest bearing checking accounts, expires this week, and according to a Federal Reserve survey, Wall Street expects borrowers to take some cash out of those accounts in response. Without the added guarantee, survey responders expect some money to be spread into safe securities like Treasury bills or money market funds. CNBC/Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  • Vanguard cuts fees for 10 sector ETFs
    Vanguard, America's third-biggest sponsor of exchange-traded funds, signaled that it isn't prepared to give up any ground in the financial industry's ETF fee war. The firm, which for years has been known as one of the most inexpensive providers of financial products, lowered its fees for 10 sector ETFs. The reductions apply to Vanguard's Health Care, Utilities, Consumer Discretionary, Energy, Consumer Staples, Materials, Industrials, Information Technology, Financials, and Telecom Services ETFs. (12/27) LinkedInFacebookTwitterEmail this Story
If all misfortunes were laid in one common heap whence everyone must take an equal portion, most people would be contented to take their own and depart."
Greek philosopher

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